ECloudvalley Digital Correlations

6689 Stock

91.80 0.80 0.88%

The current 90-days correlation between eCloudvalley Digital and Coxon Precise Industrial is 0.25 (i.e., Modest diversification). The correlation of ECloudvalley Digital is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

ECloudvalley Digital Correlation With Market

Modest diversification

The correlation between eCloudvalley Digital Technolog and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding eCloudvalley Digital Technolog and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ECloudvalley Digital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ECloudvalley Digital when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ECloudvalley Digital - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling eCloudvalley Digital Technology to buy it.

Moving together with ECloudvalley Stock

0.8	6462	Egis Technology	Pair Corr
0.76	4938	Pegatron Corp	Pair Corr

Moving against ECloudvalley Stock

0.72	2324	Compal Electronics	Pair Corr
0.72	2882B	Cathay Financial Holding	Pair Corr
0.67	3231	Wistron Corp	Pair Corr
0.61	2317	Hon Hai Precision	Pair Corr
0.61	2382	Quanta Computer	Pair Corr
0.53	3702A	WPG Holdings	Pair Corr
0.53	0050	YuantaP shares Taiwan	Pair Corr
0.42	2330	Taiwan Semiconductor	Pair Corr
0.4	0057	Fubon MSCI Taiwan	Pair Corr
0.31	0053	YuantaP shares Taiwan	Pair Corr

Related Correlations Analysis

	3607	1568	6626	3296	4558	3444	6142
3607		0.23	0.5	-0.47	-0.42	0.44	-0.08	3607
1568	0.23		-0.29	0.35	0.29	-0.14	0.56	1568
6626	0.5	-0.29		-0.44	-0.66	0.64	-0.53	6626
3296	-0.47	0.35	-0.44		0.35	-0.29	0.48	3296
4558	-0.42	0.29	-0.66	0.35		-0.88	0.61	4558
3444	0.44	-0.14	0.64	-0.29	-0.88		-0.52	3444
6142	-0.08	0.56	-0.53	0.48	0.61	-0.52		6142
	3607	1568	6626	3296	4558	3444	6142

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

3444	+ 0.64	6626
6142	+ 0.61	4558
6142	+ 0.56	1568
6626	+ 0.5	3607
6142	+ 0.48	3296
3444	+ 0.44	3607

High negative correlations

3444	- 0.88	4558
4558	- 0.66	6626
6142	- 0.53	6626
6142	- 0.52	3444
3296	- 0.47	3607
3296	- 0.44	6626

Risk-Adjusted Indicators

There is a big difference between ECloudvalley Stock performing well and ECloudvalley Digital Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze ECloudvalley Digital's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
3607	2.15	(0.22)	0.00	(0.50)	0.00	0.00	5.35	(4.39)	17.00
1568	1.31	(0.09)	0.00	(0.03)	0.00	0.00	3.50	(3.19)	13.16
6626	2.59	(0.19)	0.00	0.39	0.00	0.00	5.26	(6.58)	23.49
3296	1.99	0.21	0.05	0.67	2.54	(2.20)	4.07	(4.53)	12.92
4558	2.91	0.57	0.10	(1.07)	3.12	(3.81)	9.92	(5.78)	19.88
3444	1.31	(0.18)	0.00	(0.40)	0.00	0.00	3.10	(2.73)	11.67
6142	2.23	0.21	0.03	(2.63)	2.34	(3.05)	5.09	(4.88)	15.95

Be your own money manager

Our tools can tell you how much better you can do entering a position in ECloudvalley Digital without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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